No central or third party

Reversecoin does not use any central or third party. It is completely distributed. For reversing transactions, the only requirement is that Reversecoin is not subjected to 51% attack.

Why is this useful?

Heartbleeds and Shellshocks

Recent flood of attacks including Heartbleed, Shellshock, unpatchable USB malware etc ., demonstrate that anything and everything online, is hackable. Our survey of Stolen Bitcoins shows that about 300,000 BTC (worth about $100 million) have been stolen. Online wallets are hackable. Offline wallets offer great security, but are inconvenient to use.

Reversecoin combines best of online and offline wallets. With Reversecoin, you can transact seamlessly with your online wallet and fall back to offline wallet (cold wallet), when your computer, mobile, online account or exchange gets hacked. You can store your online wallet with your coin exchange or web wallet and keep your offline wallet with you. This way, even if your exchange or web wallets gets hacked, you will still be in control of your coins. No one can steal your Reversecoins, even if they know your online keypair. To know more about Reversecoin, read the white paper or even better, checkout the proof-of-concept code and play with it.

Code

NOTE: Reversecoin proof-of-concept is based on Bitcoinpy. Currently, it is sandboxed to a single computer and does not conenct to peers. Final version of Reversecoin will be based on Bitcoin code, using Proof-of-Stake (PoS) for mining.

Team

Obulpathi

Software Developer

Previously worked for Amazon, Blackberry, and others.

Balamurugan V Raman

Software Engineer

Previously worked for United Online and Manhattan Associates.

Shaik M. Nawaz

Senior Software Engineer

Previously worked for Larsen & Toubro and Manhattan Associates.

Dheeraj Kota

Software Engineer

Pursuing his startup in India. Previously worked for CISCO

More steam!!

We made some interesting partnerships and working on some great features for a big release soon!
In this light, we have postponed fundraising! Keep watching this space for more details!!

Contact

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For more details about project or any inquiries, please contact us at reversecoin@reversecoin.org.